If it is done for inadequate consideration, then clubbing is applicable and Income is taxable in the hands of transferor

 

Income from Assets transferred to any other person for the benefit of spouse - Different types of Clubbing

  1. Income Tax
  2. Clubbing of Income of Other Persons

About the Author

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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 9 years. He also provides Accounts Tax GST Training in Delhi and Pune.